MR = MC Practice

This MR = MC Practice video also includes:

Given quantity, total cost, and a perfectly competitive firm, how much should an organization produce and what will be the profit? Watch as the concept of profit maximization is broken down and explained with real-time illustrations and graphs.

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CCSS: Adaptable
Instructional Ideas

  • Use as a follow up after introducing concept of perfect competition
  • Include on class website for learners to use as review
Classroom Considerations

  • Class members should know how to calculate marginal cost
Pros

  • Key steps of process are identified in text at bottom of screen throughout video
  • Discusses price in perfect competition, marginal cost, and total revenue
Cons

  • None